BIIB (MKT CAP 36 BILLIONS) ANNOUNCE ISIS COLLABORATIONS TODAY
Biogen Idec (NASDAQ:BIIB) and Isis Pharmaceuticals, Inc. (NASDAQ:ISIS) today announced that they have entered into a global collaboration agreement under which the companies will discover and develop antisense drugs against three undisclosed targets to treat neurological or neuromuscular disorders. Biogen Idec and Isis are also developing antisense drugs to treat spinal muscular atrophy and myotonic dystrophy type 1 under previously established collaborations.
“Our latest collaboration with Isis to discover and develop novel targets for the treatment of neurological disorders is a perfect fit within our early-stage research strategy,” said Richard Brudnick, vice president and co-head of business development at Biogen Idec. “This will be our third collaboration with Isis, which is reflective of our respect for them as a partner and as a leader in antisense technology. By combining Isis’ knowledge with Biogen Idec’s expertise as a leader in neurology, we believe this latest discovery collaboration holds great potential for finding novel approaches to treating neurologic diseases.”